REGISTERED COMPANY NUMBER: 00755906 (England and Wales) REGISTERED CHARITY NUMBER: 243817 REPORT OF THE TRUSTEES AN AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR THE LALEC COLMAN CHARITABLE FUND LIMITED Crornbies Accountants Limited Chartered Accountants and Statutory Auditor 34 Waterloo Road Wolverhampton West Midlands WVI 4DG
THE EALEC COLMAN CHARITABLE FUND LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR EN'DED 31 MARCH 2025 Page Report of the Trustees Report of the Independent Auditors 4 to 7 Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10 to 14 Det8iled Statement of Financial Activities 15
THE E.ALEC COLMAN CHARITABLE FUND LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees. who are also directors of the charity for the purposes of the Companies Act 2006, present theiT report with the financial Statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). OBJECTIVES AND ACTtVITtES The charitable company is a registered charity whose objectives are the relief of poverty. the advancement of edttcation and the advaneement of religion. The members of the Council of Managernent confm that they have refe]Ted to the guidance contained in the Charity Commission's general guidance on public benefit when reviewincthe aiins and objectives of the charity and in plannints future activities. STRATEGIC REPORT Achi¢vement and performance Charitable activities Net r¢alis¢d outgoing resources for Ihe y¢ar amounted to £6,022 (2024: incoming £13.138) and the gain on investments for the year amounted to £1,501 (2024: £537). The deficit of £4,521 (2024: £13.675 Surplus) has been deducted from Éhe accumulated fund of the charitable company. Reserves policy The tntstee5 have established the level of reserves that the charity ought to have access to. The reserves policy is reviewed on an annual basis. The actual reserves at 31 March 2025 were £1,002,093. Financial and risk management objectives and policies The charity uses various financial instnmnents which principally comprise cash and investments. The main purpose of these financial instruments is to generate income in order to make grants in furtherance of the charitys objects. The existence of these financial instruments exposes the charity to a number of financial risks, which are described tn more detail below.. Interest rate TiSk The charity deposits its funds in only recognised banks with a high credit rating which provide a good return on itsfunds. Future plans The charity aims to wntinue distributing its resources in pursuit of its charitable objectives. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its govemin(v documenL a deed of tnt, and constitute5 a limited company, limited by guarantse, as defmed by the Companies Act 2006. Recruitment and appointment of new trustee5 Members are appointed by the Council of Management. OrganisatioDal structure The Directors of the charitable company are also the members of the Council of managetnent. REFEREIYCE AND ADMINISTRATIVE DETAILS Registered Company number 00755906 (England and Wales) Registered Charity number 243817 Page I
THE E.ALEC COLMAN CHARITABLE FUND LtMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Registered offiee I Vine Teace Hlgh Street Harborne Binningham B17 9PU Trustees S R Stone Solicitor R G Stone Accounts Assistant Company Seeret2ry P J Stone Auditors Crombies Accountants Limited Chartered Accountants and Statutory Auditor 34 Waterloo Road Wolverharnpton West Midlands WV14DG STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who aye also the directors of The E.Ale¢ Colman Charitable Fund Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the finantial statements in accordance with applicable law and United Kingdom Accountino Standards (United Kinodom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a trne and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing thos¢ financial statements, the trustees are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP" make judgements and estimates that are reasonable and prndenL prepare the financial statements on the going coneern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keepino proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements Comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charitsble company and hence for taking reasonable steps for the prevention and detection of fraud and other I¢gularities. In so far as the trustees are aware: there is no relevant audit inforniatTon of which the charitsble company's auditors are unaware" and the trustees have taken all steps that they ought to have tsken to make themselves aware of any relevant audit inforniation and to establish that the auditors are aware of that inft?rniation. AUDITORS The auditor5. Crombie5 Acwuntants Limite4 will be proposed for re-appointtnent at the forthcoming Annual General Meeting. Report of the tsutees, incorporating a strdtegic reporL approved by order of the board of trustees. as the company directors, on 20 August 2025 and sI¢d on the board's behalf by:
THE E.ALEC COLMAN CHARITABLE FUND LIMITED REPORT OF THE TRUSTEES FOR THE YEAR EED 31 MARCH 2025 S R Stone- Trustee
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE E.ALEC COLMAN CHARITABLE FUND LIMITED Opinion We have audited the financial statements of The E.Alec Colman Charitable Fund Limited (the 'charitsble company,) for the year ended 31 March 2025 which comprise the Ststement of Financial Activities, the Balance Sheet and notes to the financial statements, including a sumrnary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources. including its income and expenditure. for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting PrdLliLe; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilitie5 under those standard5 are further dexribed in the Auditors, responsibilities for the audit of the financial stalcmcnts section of our report. We are independent of the charitablc company in accordance with the ethical rcquircment5 that are relevant to our audit of the financial staternents in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CoDelusions relating to going concern In auditing the financial stateinents, we have concluded that the trustees, use of the going ¢on¢ern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that, individually or collectively? may cast SilfiCant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The trustees are responsible for the other inforniation. The other inforniation comprises the inforn]ation included in the Annual ReporL other than the financial statements and our Report of the Independent Auditors ihereon. Our opinion on the fmancial statements does not cover the other infom]ation and, except to the extent otherwise explicitly stated in our repor¢ we do not express any forn of assurdnc¢ conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doincr so. consider whether the other infomation is materially inconsistent with the financial statements or our knowledge obtaincd in thc audit or otherwise appears to be materially misstated. If we identify such vnaterial inconsistencies or apparcnt material rnisstatements, we are required to detemjine whether this gives risc to a material misstateinent in the financial statements themselves. If. based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the inforniation given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE E.ALEC COLMAN CHARITABLE FUND LIMITED Matters on Ivhich we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of ihe Tte¢s. We have nothing to report in respect of the followino matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from bran¢he5 not visited by us. or the financial statements are not in agreement with the accounting records and Teturns" OT certain disclosures of trustees, remuneration specified by law are not made. or w¢ have not received all the infomiation and explanations we require for our audit. or the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a StTategic Report or in preparing the Report of the Tntees. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directOT5 of the charitable company for the purposes of company law) aTe responsible for the preparation of the financial statements and for beincv satisfied that they give a true and fair view. and for such internal control a5 the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatemenL whether due to fraud or eOr. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue a5 a going Conce disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidare the ¢haritabl¢ company or to cease operations, or have no realistic alternative but to do so. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE E.ALEC COLMAN CHARITABLE FUND LIMITED Our responsibilities for the audit of the financial slatements Our objectives are to obtain reasonable assurance about whether the financial slal¢m¢nts as a whole are free from material misstatement, whether due to fraud OT eOr. and to issue a Report of the Independent Auditors that includes OUT opinion. Reasonable assurance is a hiJ] level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. IMissÉaternents can arise from fraud or eOr and are considered material if. indivldually or in the aggregate, they could reasonably be expected to influence the economic decision5 of users taken on the basis of these fInancial statements. -the engagement partner ensured that the engagement team collectively had the appTopriate cornpetence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations" -we identified the laws and regulations applicable to the company through discussions with directors and other management -we focused on specific laws and regulations which we considered may have a direct material eITcct on the financial statements or the operations of the company, including the Companies Act 2006, UK taxation legislation and other laws and regulations identified as risk are from making enquiries of management and inspecting legal correspondence- and -id¢ntified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audiL We assessed the susceptibility of the company's financial statements to material mi5StatemenL including obtaining an understanding of how fraud might occur. by: -making enquiries of management as to where they ¢onsidered there was susceptibility to fraud, their knowledge of actual, suspected and alleg¢d fraud. and -¢onsidering the internal ¢ontrols in place to mitigate risks of fraud and non-compliance with laws and Tegulations. To address the risk of fraud ihrough management bias and override of Controls, we.. -perfonned analytical proccdures to idcntify any unusual or unexpected relationships. -tested journal entries to identify unusual transactions. -assessed whether judgements and assumptions made in deterniining the accounting estimates set out in note 2 were indicative of potential bias. and .investigated the rationale behind SIlficant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulation4 we designed procedures which included, but were not limited to.. -agreeing financial statement disclosures to underlying supporting documentation. -reading thc minutes of meetings of those charged with governance. -enquiring of management as to actual and potential liligation and claims: and -reviewing correspondence with HMRC, relevant regulators Including the Health and Safety Executive, and the companys legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the dire¢tors and other inanagement and the inspcction of regulatory and legal correspondence. if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment OT collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description fornis part of our Report of the Independent Auditors. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE E.ALEC COLMAN CHARITABLE FUND LIMITED Use of our report This report is made solely to the charitable company's member5. as a body, in awrdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that w¢ might state to the charitable company's momb8rs tho6e nwtters ivo aro requirod to stalo to thom in Im auditor report and foT no other PUTpoKe. To tho fulleBt extent pennitted by law, we do of accept or assume responsibiliry to anyone olher than the charitable company and the charitable company's me as a body. for our audit worK for this reporL or for the opinions we have fornled. Mark Fletcher Bsc ACA (Senior Statutory Auditor) for and on behalf of Crombies Accountants Limited Chartered Accountants and Statutory Auditor 34 Waterloo Road Wolverhampton W¢st Midlands WVI 4DG 20 August 2025
THE E.ALEC COLMAN CHARITABLE FUND LIMITED STATEMENT OF FINANCIAL ACTIVITJES FOR THE YEAR ENDED 31 MARCH 2025 2025 Unrestricted nd 2024 Total fund5 Notes INCOME AP4D ENDOWMENTS FROM Investment income 42,980 33,959 EXPENDITURE ON Other 49,002 20,821 Net gains on investments .501 537 NET INCOMEI(EXPENDITURE) (4,521) 13.675 RECONCILIATION OF FUNDS Total funds brought fonvard 1.006,614 992,939 TOTAL FUNDS CARIUED FORWARD 1,002,093 1,006,614 The notes fonn part of these financial statements Page 8
THE E.ALEC COLMAIY CHARITABLE FUND LIMITED BALANCE SHEET 31 MARCH 2025 2025 Unrestricted fund 2024 Total funds Notes FIXED ASSETS Jnvcstments 833,130 831,629 CURRENT ASSETS Debtors Cash at bank 16,102 157.601 17,417 159,308 173,703 176,725 CREDITORS Amounts falling due within one year (4,740) {1.740) NET CURRENT ASSETS 168,963 174,985 TOTAL ASSETS LESS CURRENT LIABILITIES 1.002,093 1,006,614 NET ASSETS 1,002,093 1.006,614 FUNDS Unrcstricted funds 1.002,093 1.006,614 TOTAL FUNDS 1,002,093 ,006,6J4 These financial 5tstements have been prepared in accordance with the provisions applicable to charitable companie5 subje¢t to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 20 August 2025 and were signed on its behalf by: S R Stone- Trustee The notes forni part of these financial statements Ptse 9
THE E.ALEC COLMAN CHARITABLE FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charltable company? whirh is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recotnmended Practic¢ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical Cost convention, with the exception of investments which are included at mark¢t value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount ¢an be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation cominitting the charity to that expenditure, it is probable that a transftt of economic benefits will be required in settlement ond the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from corporation tax on its charitable adivities. Fund accountlng Unrestricted funds ¢an be used in accordance with the charithble objectives at the discretion of the trustees. Restricted ndS can only be uscd for particular restricted purposes within the objects of the charity. Restrictions aris¢ when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fimd is included in the notes to the financiY41 ststements. INVESTMENT INCOME 2025 2024 Deposit account interest Interest receivablc - trading Othcr fixed asset investments - Fll 25,262 17,600 118 20.968 12.952 39 42,980 33,959 Page 10 continued...
THE E.ALEC COLMAN CHARITABLE FUND LIMITED NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 NET tNCOMEI(EXPENDITURE) Net incomel(expenditLwe) is stated after chargingl(crediting): 2025 2024 Auditors, remuneration 3,000 1,740 TRUSTEES, REMUNERATION AND BENEFITS Ther¢ were no tn]ste¢s' remuneration or other benefits for th¢ year ¢nded 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund IIYCOME AND ENDOWMENTS FROM Investment income 33,959 IXPENDITURE ON Other 20,821 Net gains on investsnents 537 NET INCOME 13,675 RECONCILIATION OF FUNDS Total funds brought forward 992,939 TOTAL FUNDS CARRIED FORWARD 1,006,614 Pagell continued...
THE E.ALEC COLMAN CHARITABLE FUND LtMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 FIXED ASSET INVESTMENTS Listed investments Unlisted investsnents Totals MARKET VALUE At l April 2024 Revaluations 2.629 1,501 829,000 831,629 1,501 At 31 March 2025 4.130 829,000 833,130 NET BOOK VALUE At 31 March 2025 4.130 829,000 833,130 At 31 March 2024 2,629 829,000 831,629 There were no investment assets outside the UK. Cost or valuation at 31 March 2025 is represented by: Listed investments Unlisted investments Totals Valuation in 2025 C05t 1,501 2,629 1,501 831,629 829,000 4.130 829,000 833,130 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Prepayments and accrued income 16,102 17,417 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 A¢cruals and deferred income 4,740 1,740 MOVEMEIYT lly FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General fund 1,006,614 (4,521) 1.002,093 TOTAL FUNDS 1,006,614 (4,521) 1.002,093 continued...
THE E.ALEC COLMAN CHARITABLE FUND LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 MOVEMENT IN FUNDS- continued Net movemerjt in fimds, included in the above are a5 folloME: Incoming resources Resource5 expeJ)ded Gains and losses Movement in funds Unrestricted funds General fund 42,980 (49.002) 1,501 (4,521) TOTAL FUNDS 42.980 (49,002) 1,501 (4.521) Comparatives for movement ID funds Net movement in funds At 31.3.24 At 1.4,23 Unrestricted funds General fund 992.939 13,675 1,006.614 TOTAL FUNDS 992.939 13,675 1,006,614 Comparative net movement in fimds. included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 33,959 120,821) 537 13,675 TOTAL FUNDS 33,959 (20,821) 537 13,675 A Current year 12 months and prior year 12 months combined position is &8 follows.. Net movement in fwids At 31.3.25 At 1.4.23 Unrestrieted funds Generdl fund 992.939 9,154 1,002.093 TOTAL FUNDS 992,939 9,154 1,002,093 Paoe 13 continued...
THE E.ALEC COLMAN CHARITABLE FUND LIMITED DETAED STATEMENT OF FINANCJAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Investment income Deposit account interest Interest receivable - trading Other fixed asset investments - Fll 25,262 17,600 118 20,968 12,952 39 42,980 33,959 Total incoming resources 42,980 33,959 EXPENDITURE Other Donations 45.950 19,050 Support eosts Management Sundries 34 13 Finance Bank charges 18 18 Governance costs Auditors, remuneration 3,000 1,740 Total resources expended 49,002 20,821 Net (expeThditure)lincome before gains and losses (6,022) 13.138 Realised recognised gains and losses Realised gainsl(losse5) on investment property 1,501 537 Net (expenditure)lincome (4,521) 13,675 This page does not forn] part of the statutory financial 5tatemeTJts Paoe 15